FXstreet.com (Barcelona) - Euro weakness seen during Asian session, with EUR/USD plunging from levels above 1.4500 to test week low at 1.4405, has extended on early European session, as the European currency broke below 1.4400 to a fresh intra-week low at 1.4375.

In case of confirming below 1.4400/05, next support levels could be at 1.4340, and 1.4280 (200-day MA). On the upside, resistance levels might be at 1.4445/60 (Jan 12, 13 and 14 lows), and above here, 1.4530 and 1.4555 (Jan 11/14 high).

A sustained break below 1.4405 could take the Euro down to 1.4300, According to Ian Coleman, collaborator at FXstreet.com: indicators are strongly bearish with the MACD opening up (wider lines showing growing trend) and showing no signs of divergence. A break of 1.4406 should take us down to the trend line support at 1.4300 before we correct higher.

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